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Fossil Group shares soared 79 percent in early trading on Wednesday as short sellers rushed to cover their positions, a day after the watchmaker posted a better-than-expected increase in sales in the holiday quarter.

Marking the biggest sales dip in 11 months, US consumer spending cooled off in the first quarter, following the holiday season's strong showing. Year-over-year data, however, shows a healthy uptick of 5.4 percent.

Facing slowing global demand for diamond jewellery, international diamond companies are reshaping marketing campaigns to tap a growing pool of independent female spenders in China, the world's second largest economy.

Luxury rental service Armarium opened its first LA pop-up that links the sharing economy with the demands of awards season fashion. The pop-up also offers pieces from online fine jewelry rental company, Flont.

​Sales of ‘traditional’ jewellery have doubled at general merchandise retailer Argos in the past two months with the company citing Britons binge-watching hit Netflix show The Crown as being behind the surge.

McDonald's has created an outrageous diamond and sapphire-studded Big Mac ring worth $12,500 in a Valentine's Day stunt that encourages true Big Mac lovers to pledge their commitment by putting a ring on it.

Indian federal agents said on Monday they had launched an investigation into billionaire jeweller Nirav Modi, one of the country's richest men, over accusations that he and others defrauded a state bank of $44 million.